Business Standard

Commercial spaces re-open vistas for security service firms: CRISIL

Private security players' key service offerings include manned guarding, cash management services, and allied services such as electronic security services

Security Services, SIS

Business Standard
The Indian private security service industry will grow 12-14 per cent to about Rs 1 trillion in revenue in 2022-23 (FY23), driven by the gradual post-pandemic reopening of offices across the country, a CRISIL MI&A Research estimate shows.

The tailwinds include infrastructure development, urbanisation, growing incidents of crime and terrorism, and a low police-population ratio. Rising private investment and recovery in commercial real estate are supporting demand growth too. This is good for micro, small and medium enterprises (MSMEs), which account for 35-40 per cent of the industry’s revenue. 

As things stand, industrial and manufacturing; banking, financial services, and insurance;

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First Published: Feb 24 2023 | 4:13 PM IST

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